IBC proceedings: 78 liquidation orders, a handful of resolutions

A large number of cases under liquidation are either small or medium enterprises

After more than a year of the Insolvency and Bankruptcy Code (IBC) proceedings, there have been more liquidation cases than resolution of the non-performing assets (NPA) accounts. According to a data from the Insolvency and Bankruptcy Board of India (IBBI), in the National Company Law Tribunal (NCLT), around 78 companies got liquidation orders since February 2017. 

In six cases, resolution plans have been approved at the NCLT, and in another four cases, resolution plans have been submitted to the tribunal. Around 921 cases are under the different stages of the IBC proceedings, according to the data from the IBBI. Among the